Unearned Rent
Revenue 3,300
Mortgage Payable 38,400
Common Stock 60,376
Rent Revenue 9,000
Salaries and Wages
Expense 3,000
Utilities Expense 800
Advertising Expense 500
$116,152 $116,152
Other data:
1. Insurance expires at the rate of $360 per month.
2. A count of supplies shows $1,052 of unused supplies on May
31.
3. (a) Annual depreciation is $3,480 on the building.
(b) Annual depreciation is $3,360 on equipment.
4. The mortgage interest rate is 5%. (The mortgage was taken
out on May 1.)
5. Unearned rent of $2,540 has been earned.
6. Salaries of $784 are accrued and unpaid at May 31.